The Ideal Moment to Buy Ethereum (ETH) Is Now: Here’s Why
It was the start of June when the second-largest cryptocurrency last traded above the $2,000 psychological level and is currently down 60% on a yearly scale.
Despite the downfall, many analysts see upside potential, while some believe the ongoing conditions represent a great buying opportunity.
The Right Strategy?
As of press time, ETH is worth around $1,880, as some market participants are perhaps waiting for the ultimate confirmation that the cycle’s bottom has arrived so they can jump on the bandwagon. According to Michael van de Poppe, that moment never comes, claiming the ideal time to position yourself in ETH is literally right now.
“It’s always awkward to be positioning yourself into a position, as that’s the purpose of the markets. Previous breakouts of the market have resulted in generally big returns, as ETH is known for volatile movements. In that sense, last time a 60% breakout in less than a week took place. In 2023, the same happened,” he added.
Van de Poppe said he wouldn’t be surprised to see such an upswing in the following months, with a rally to $3,000 in a matter of days/weeks. Shortly after, the analyst argued that “a volatile move” is on the horizon, suggesting that ETH’s range is getting smaller day after day and that a pump might be coming next.
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